tag:www.jmarascolaw.com,2013-03-21:/blog/818222018-12-04T14:31:18ZMovable Type Enterprisetag:www.jmarascolaw.com,2018:/blog//81822.35324602018-12-04T14:32:18Z2018-12-04T14:31:18Z
Home buyers in Rhode Island have a lot to contend with. Along with applying for a loan and bringing together all pertinent documents, buyers must also think about having a home inspection performed. This is an integral step in the real estate process, as an inspection reveals information about a property that would be hard to discover on sight alone. Realtor.com offers the following information on home inspections and why they’re so important.

Don’t sacrifice quality for price

]]>
While you definitely don’t want to pay too much for an inspection, choosing the least expensive option may come back to haunt you. Research is key in this case. Make sure an inspector has access to essential equipment, such as devices needed to test lead amounts in paint. You can also look at other inspectors to get a feel for average pricing.

Buyers should be present during the inspection

While a report of findings is certainly helpful, not being present for the inspection means you can’t ask questions. There could be some issues in need of clarification, or some of the findings may seem more serious than they actually are. Getting this information directly from the inspector is much easier than following up after the inspection has been completed.

Focus on the most pressing details

Some issues with a home shouldn’t be ignored. This includes problems with the heating and cooling system, roof damage, and structural issues. When significant problems are found the buyer should contact the seller to renegotiate the asking price. However, minor details don’t require the same level of attention, and many sellers are put off by requests to address seemingly unimportant details.

]]>
tag:www.jmarascolaw.com,2018:/blog//81822.35168182018-11-24T17:37:50Z2018-11-24T17:36:50Z
Some people in Rhode Island choose to write their own wills to save money on legal costs. While there are numerous DIY estate planning tools available, creating your own will can end up costing you and your family both money and time in the long run. The Balance offers the following insight, which might make you think twice before creating your own will.

There are many different laws governing the creation of estate plans. While some of these laws exist on the federal level, there are also state laws that must be adhered to. If your will fails to comply with laws regarding estate taxes or doesn’t contain the necessary components, it could end up in probate. This is a costly and time-consuming legal process of proving a will, which can have a negative impact on your estate.

]]>
You may also have a unique situation that isn’t covered by the standard boilerplate found within DIY wills. Maybe you have a number of high-value assets or own property out of state. You may also want to set up guardianships for minor children, and this could be impossible to accomplish with a standard will. An attorney will have the appropriate knowledge to ensure your will can accomplish what it needs to.

Lastly, there is no substitute for experienced legal counsel. With an attorney’s assistance, you can rest assured that your will is legally binding and capable of being enforced. If you read DIY will resources closely many say that they are not meant to be a substitute for professional legal help. In many cases, it’s best to heed these warnings and contact an experienced attorney to create your estate plan.

]]>
tag:www.jmarascolaw.com,2018:/blog//81822.34949362018-11-07T21:50:00Z2018-11-05T21:50:56Z
One of the most important parts of an estate plan is who you choose to handle your affairs. You will be placing a great amount of power in this person’s hands to act on your behalf. Because of this, you will want to make sure this person is trustworthy and capable of handling the job.

The size of your estate and your health conditions may play a part in making your choice of power of attorney. You may decide it is beneficial to make specific designations. Here are some elements of power of attorney that you should know.

]]>
General power of attorney

A general power of attorney will handle your affairs and make decisions while you are still alive. The agent you choose will be able to perform nearly any act in your place including:

Bank transactions

Claim settlements

Filing taxes

Managing real estate

A general power of attorney arrangement will come to an end once you pass away or become incapacitated. At that time, the person you have chosen to be your general power of attorney will no longer have any authority over your affairs.

Durable

Designating someone as a durable power of attorney means they will have all the same powers as a general power of attorney, except by being durable, they will continue to have power of attorney even if you become incapacitated.

Springing

This type of power of attorney only becomes effective when you become incapacitated. This means that you are only giving authority to someone else the moment you are classified as incapacitated. Once this designation springs into effect, the person you have chosen assumes the same role as a durable power of attorney.

Power of attorney for health care

This will authorize your agent to be in charge of making critical health care decisions if you become incapacitated and are not able to make decisions yourself.

As you can see, choosing the right power of attorney is very important based on the level of responsibility you are handing them. You will want to choose someone that you not only trust but is comfortable handling the decisions that are best for you.

]]>
tag:www.jmarascolaw.com,2018:/blog//81822.34973092018-11-02T20:26:26Z2018-11-02T20:25:26Z
When it comes to your will, you may have many different things to take into consideration. However, the way in which you divide your assets among loved ones is a crucial part of your will and our law office also realizes that this can be an especially difficult aspect of estate planning. For example, you may be uncertain of the best way to distribute assets among heirs and things may change in your life, causing you to rethink how you have set up your will. When this happens, you may even want to add or remove beneficiaries from your will.

Adding beneficiaries may be necessary for many reasons. For example, the birth of a grandchild or adopting a child may give you reason to add a beneficiary to your will. On the other hand, you may find that it is necessary to take someone off of your will. For example, you may not wish to pass down any of your assets to a family member who has become estranged or has carried out a terrible act that has devastated the family. As a result, you may feel that the time has come to remove a beneficiary.

]]>
Adding or removing beneficiaries from a will is an extremely important decision that can have a major impact on your estate plan and your loved ones, so it is pivotal to carefully think over these issues before moving ahead. Furthermore, you should make sure that you understand the steps that will need to be taken in order to do so.]]>
tag:www.jmarascolaw.com,2018:/blog//81822.34853842018-10-22T23:52:47Z2018-10-22T23:51:47Z
If you are like most people in Rhode Island, someone you know or are related to may have been diagnosed with a serious, terminal illness. One of the things that this experience often leads people to do is to talk more candidly with their family members about what type of medical care they do or do not want to experience or undergo. However, it is not necessary, nor is it recommended for people to wait until these moments to have such conversations and make such decisions.

An advance directive, also called an advance health care directive, is a valuable tool that even the healthiest person can establish. An accident may render a young person unconscious and unable to make decisions on their own behalf, for example.

]]>
The American Cancer Society explains that an advance directive can be setup to do one of two things. In one scenario, it can outline all of your requests such as the wish to be resuscitated or not to be resuscitated. In other situations, it may simply appoint another person to act and make decisions for you if you cannot do so for yourself. These documents in no way grant the right for someone else to manage finances on your behalf. Specialty advance directives may be created that pertain to topics such as organ or live tissue donations.

This information is not intended to provide legal advice but is instead meant to provide Rhode Island residents an overview of advance health care directives and the various types of decisions and details they may outline.

]]>
tag:www.jmarascolaw.com,2018:/blog//81822.34786522018-10-16T18:05:22Z2018-10-16T18:04:22Z
As a parent, you would do anything for your children. But sometimes, even the most devoted parents must spend time away from their children for extended periods of time. Whether you are in the military, you share custody with your partner or you must travel for work, you sometimes have to spent time away from your children.

You worry about what would happen to your child if you were not there to make important decisions on their behalf. If your child were injured or needed an adult’s signature for an important form, who would act on their behalf? This is where a childcare power of attorney comes in.

If you are not physically present, a childcare power of attorney allows another trusted adult to:

Sign medical, legal and financial documents on your behalf

Authorize medical care for the child

Set school schedules, pick a child up from school or enroll them in extracurricular activities or sports

Access the child’s bank account or other assets

These legal documents can be very helpful to parents who must take time away from their children. Even if you do not have to spend time apart from your kids, a childcare power of attorney is very useful. If you are rendered incapacitated, it allows someone you trust to make decisions regarding your children.

To make a childcare power of attorney, many people work with a nearby attorney. You can discuss the ins and outs of these documents in greater detail, and learn whether it is right for you and your family.

]]>
tag:www.jmarascolaw.com,2018:/blog//81822.34759542018-10-14T22:51:09Z2018-10-14T22:50:09Z
If you’re buying a new home in Rhode Island, chances are you’re extremely excited about what the future holds. It’s important to enter into the process with the right information however, to prevent you from running into trouble with your home or mortgage down the line. Accordingly, TheBalance.com offers the following advice to home buyers looking, especially those buying a home for the first time.

Do your research

]]>
Even if you’re working with a real estate agent, it’s best to do some research online when searching for a home. You want to consider things like neighborhood, size, amenities, among many other considerations. You also want to think about the price you’re most comfortable paying, including things like yearly maintenance and taxes.

Find a loan

Chances are you’ll need to take out a loan when buying a home. There are numerous options in this case, including those suited to first-time buyers. You can also get pre-approved for a loan, which will make the process a bit easier. Many sellers look for homeowners with pre-approved loans, as this establishes their ability to pay for the home. This is especially beneficial when there are multiple offers on a property.

Schedule a home inspection

You want to ensure you’re getting what you pay for when buying a home. This is why home inspections are so important, as they uncover any potential issues before money is exchanged. In some cases, you may be able to negotiate a lower price if repairs are required. In others, the seller may be willing to make repairs before the home is sold to ensure the property is ready for the new owner. If extensive repairs are needed, you may decide to continue your search.

]]>
tag:www.jmarascolaw.com,2018:/blog//81822.34264382018-09-10T14:39:40Z2018-09-10T14:40:31Z
Creating an estate plan is not just for elderly or wealthy individuals. Even young individuals with a relatively small savings account can benefit from creating an estate plan. This plan can help you control what happens to you and your assets if you become ill or when you pass away.

At the same time, it can be hard to think about a time when you will no longer be alive. It can be easy to put off creating an estate plan. In fact, one survey shows that 6 out of 10 Americans do not have a will.

]]>
What is estate planning?

Creating an estate plan is basically putting to paper your intentions for when you die or become incapacitated and unable to make decisions for yourself. An estate plan can describe what will happen to your assets when you pass, but it can also encompass much more, including:

Decisions about what health interventions you do and do not want

Which individuals can make decisions about your health care and finances

Arrangements for any minor children

Funeral arrangements

Where do I start?

A cornerstone to every estate plan is a will. A will makes sure that your assets go where you want them. A will can:

Name someone to carry out your will

Name guardians for children, or pets, if you have any

Designate where you want your property to go

It can be daunting to think about your future death, but it can also help set your mind at ease. With a plan in place you know that you will still be control of what is yours.

]]>
tag:www.jmarascolaw.com,2018:/blog//81822.34181352018-09-05T18:25:04Z2018-08-31T15:41:01Z
According to Mayo Clinic, one out of every three people in this country act as informal caregivers to family members. Even if you or your family have not labeled the care in that manner, anyone who provides assistance to an ill or disabled family member regardless of age is a caretaker. Although experiencing stress is common, many individuals and their families fail to recognize the signs of caretaker burnout or distress.

Caretaker stress and burnout can affect the most resilient and organized people. No one is immune. The impacts of long term stress takes a toll on a caretaker’s physical, emotional and psychological health. Depression and anxiety is common, as is heart disease and diabetes.

]]>
Who is at risk?

Caretakers that live with a sick or disabled family member are at highest risk of burnout and stress. The following are also factors that increase the likelihood of burnout:

Pre-existing or current depression or anxiety

Financial struggles

Being the sole caregiver and having no choice in the matter; limited support network

Lack of resources for help

Limited problem solving and coping skills

High levels of care and long hours spent providing it

Caring for someone with Alzheimer’s disease

Caretakers suffering from a chronic illness of their own

People who work outside the home and provide care

Personality characteristics that result in the caretaker rarely asking for help or find it uncomfortable to do so

If you have a caregiver in the family or are one yourself that constantly feels overwhelmed, worried, tired, easily irritated, sad, have no interest in hobbies or other activities in addition to suffering from frequent bodily aches, lack of sleep, or uncharacteristic weight loss or gain, then burnout is likely to blame. It is important to reach out and find resources in your community to assist the caretaker before the stress creates serious problems.

Caregiver Stress can escalate to distress

Caregiver stress can escalate to caregiver distress, which causes long term health issues like high blood pressure, diabetes, or lung and heart problems. The website www.caregiverstress.com has a Family Caregiver Distress Assessment Tool with questions the caretaker in your family can answer to evaluate their stress levels. It also provides caregiver resources that your family may find useful.

Regardless of the situation, caregiver burnout, stress, and distress are all serious concerns that should not be taken lightly. Caring for the sick and disabled is challenging and stressful for all.